Adobe Systems Inc. (NASDAQ: ADBE) is set to report earnings after today’s close of trading. The estimates from First Call are $0.46 EPS on $880 million in revenues. As far as what is ahead, analysts expect next quarter to show $0.45 EPS on $977.9 million. The quarter after next is also the fiscal year end and estimates for fiscal NOV-2008 are $1.90 EPS on $3.59 Billion in revenues.
Shares have been more volatile than in the past, and shares are up more than 25% from its March lows. On average analysts have a price target north of $48.00 per share.
As a reminder, options expiration is this coming Friday and options trading looks more active so far today compared to most normal trading days. So far it looks like options traders are only expecting a move of up to $1.40 in either direction.
Its 52-week trading range is $30.70 to $48.47. With a forward P/E ratio of about 22.2 and an expected 13% earnings growth from 2008 to 2009 and with the stock neither close to its 52-week highs or lows, guidance will likely be the most critical aspect for determining the valuations.
Jon C. Ogg
June 16, 2008
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